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VKJ Law Offices of Vinay K. Jain Advocates & Solicitors

Petro Sector contributed about Rs 6 lakh crore to Central & State Exchequers last year

NEW DELHI, JULY 16, 2019: PRICES of petrol and diesel have been made market-determined by the Government with effect from 26.06.2010 and 19.10.2014 respectively. Since then, the Public Sector Oil Marketing Companies (OMCs) take appropriate decision on pricing of petrol and diesel in line with international product prices and other market conditions.

The total contribution to Central and State Exchequer from petroleum sector during the last five years is over Rs 595438 Crore in the fiscal 2018-19. About Rs 3.65 lakh went to the Central Govt and Rs 2.3 lakh crore to the States.

This information was given by the Union Minister of Petroleum & Natural Gas, Mr Dharmendra Pradhan in a written reply to the Lok Sabha yesterday.

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